NeuralStackAI agent startup Manus has raised more than $500 million in its first funding round since Meta abandoned its acquisition of the company. Butterfly Effect, Manus’ parent company, said the financing was led by private equity firm Boyu Capital and venture investor IDG Capital.
Existing shareholders Tencent, HSG and ZhenFund also participated in the round. Butterfly Effect did not disclose Manus’ post-funding valuation, although Bloomberg previously reported that the company was seeking to double its valuation to $4 billion.
The financing follows Beijing’s decision to block Meta’s short-lived acquisition of Manus. Meta had been working to integrate Manus’ team and technology into its own systems before Chinese authorities ordered the deal to be prohibited.
Why this matters
The raise suggests investors remain willing to back Manus as an independent company despite the regulatory intervention. It also points to continued confidence in AI-agent businesses, even as foundation models improve rapidly and competition puts pressure on prices.
Manus launched in China in early 2025 and later moved its staff to Singapore after receiving backing from U.S. venture firm Benchmark. Meta announced its acquisition in December, but China’s National Development and Reform Commission subsequently ordered the foreign investment in the Manus project to be blocked.
Since separating from Meta, Manus has resumed independent operations and introduced Manus 2.0, built on its in-house Cascade execution system. It has also launched Cue, a personal-agent app in which each agent has its own email address, phone number and mobile wallet.
Meta has continued developing its own personal AI agent after the breakup, launching its Muse agent in early September. The former integration may still influence the competitive landscape, as analysts note that separating companies cannot erase what engineers learned while working together.
Manus’ next challenge will be turning fresh capital and renewed independence into a durable business. Analysts say the company will need to demonstrate scale, profitability and regulatory alignment, while potentially reshaping its business and ownership structure before considering a public listing.